Title Commitment and Survey. (a) Buyer has received and reviewed a copy of the Title Commitment and the Existing Survey. Buyer is solely responsible for obtaining any updated title commitments, surveys, or any other title related matters Buyer desires with respect to the Assets at Buyer’s sole cost and expense. Buyer shall have until not later than 5:00 p.m. Eastern Time on the date that is no later than ten (10) days prior to the end of the Due Diligence Period (the “Title Report Objection Date”), to notify Seller’s attorney in writing (the “Title Report Objection Notice”) as to any items shown on the Title Commitment (as updated if applicable) that Buyer believes are not Permitted Exceptions. Buyer’s failure to timely deliver the Title Report Objection Notice on or prior to the 5:00 p.m. Eastern Time on the Title Report Objection Date shall constitute Buyer’s irrevocable acceptance of the Title Commitment and Buyer shall be deemed to have unconditionally waived any right to object to any matters set forth therein. If Buyer timely delivers a Title Report Objection Notice, Seller shall have seven (7) days after receipt of such notice to notify Buyer (i) that Seller will remove or cause to be removed such objectionable exceptions from title on or before the Closing, in which case the provisions of subsection 8.3(b) shall apply; or (ii) that Seller elects not to cause such exceptions to be removed at which time Buyer may elect, prior to the end of the Due Diligence Period, to accept the Title in its current condition or terminate this Agreement in which event the Deposit shall be promptly delivered to Seller and the parties shall have no further obligations to each other except for those that expressly survive the termination of this Agreement. Nothing in this subsection shall require Seller, despite any election by Seller to attempt to discharge any title exceptions, to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, other than with respect to the Pre-Effective Date Seller Encumbrances, Post Effective Date Monetary Encumbrances and Post Effective Date Seller Encumbrances (as hereinafter defined) pursuant to Section 8.3 of this Agreement.
Title Commitment and Survey. 3.1. Attached hereto as Exhibit D is a copy of a title commitment for an owner's standard title insurance policy issued by First American Title Insurance Company (hereinafter referred to as "Title Insurer") dated July 12, 1996 as to real property located in Fulton County, Georgia and Augusx 00, 1996 as to real property located in DeKalb County, Georgia for the Property (the "Title Commitment"). For purposes of this Agreement, "Permitted Exceptions" shall mean: (a) general real estate taxes, association assessments, special assessments, special district taxes and related charges not yet due and payable for any tax years of the Closing Date or thereafter; (b) matters shown on the "Survey" (hereinafter defined); (c) matters caused by the actions of Purchaser; and (d) the title exceptions set forth in Schedule B Part II of the Title Commitment as Numbers 7 and 9 through 16 inclusive, to the extent that same affect the Property. All other exceptions to title shall be referred to as "Unpermitted Exceptions". On the Closing Date, it will be a condition of Purchaser's obligation to close that Title Insurer shall deliver to Purchaser a standard title policy in conformance with the previously delivered Title Commitment, subject only to Permitted Exceptions and Unpermitted Exceptions waived by Purchaser (the "Title Policy"). Seller and Purchaser shall each pay for one-half of the costs of the Title Commitment and the Title Policy and Purchaser shall pay for the cost of any endorsements to, or extended coverage on, the Title Policy. It shall also be a condition of Purchaser's obligation to close hereunder that the Title Company agree to issue those endorsements and special coverage requested by Purchaser set forth on Exhibit S.
Title Commitment and Survey. Owner JV has received, reviewed, accepted and approved (i) a commitment for title insurance or preliminary title report from the Title Company with respect to the Property (the “Title Commitment”), and (ii) a survey of the Property (the “Survey”).
Title Commitment and Survey. (a) On or before twenty (20) days from the Effective Date, Seller shall deliver or cause to be delivered to Purchaser the following:
(i) Commitment to Purchaser for an ALTA Owner Policy of Title Insurance (the "Title Commitment") from Chicago Title Insurance Company, acting through its offices at 0000 00xx Xxxxxx, X.X., Xxxxx 000, Xxxxxxxxxx, X.X., 00000, Attn: Xx. Xxxxxxxxxxx X. Clarke (the "Title Company"), dated on or after February 7, 1997, setting forth the Title Company's opinion of the status of the title of the Real Property as affected by all recorded liens, claims, encumbrances, easements, rights-of-way, reservations, restrictions, and any other matters recorded in the Land Records; and
(ii) A true, complete, and legible copy of all recorded documents referred to in the Title Commitment, including, but not limited to, deeds, lien instruments, plats, reservations, restrictions, and easements (the "Title Documents").
(b) On or before twenty (20) days from the Effective Date, Seller shall deliver or cause to be delivered to Purchaser an ALTA survey meeting the 1992 Minimum Standard Detail Requirements for ALTA/ASCM Land Title Surveys (the "Survey") prepared by a licensed surveyor acceptable to the Title Company (the "Surveyor"), which Survey, as certified by the Surveyor to Seller, Purchaser and the Title Company in a form reasonably acceptable to Purchaser, at least shall (i) reflect the Surveyor's professional opinion of the actual dimensions of, and area within, the Land, the location of any easements, setback lines, encroachments, or overlaps thereon or thereover, and outside boundary lines of all the Improvements and the square footage and elevation of each of the buildings within the Improvements, (ii) identify all easements, set-back lines, and other locatable matters referred to as exceptions to coverage in the Title Commitment, by book and page reference, (iii) include the Surveyor's registered number and seal and the date of the Survey, (iv) be sufficient to cause the Title Company, at the sole election and expense of Purchaser, to delete the printed exception for "encroachments, overlaps, boundary lines disputes, or other matters which would be disclosed by an accurate survey or inspection of the land" in the Owner Title Policy to be delivered pursuant to the Title Commitment, (v) reflect the Surveyor's professional opinion of the area of the Land, if any, within a special flood hazard area or zone as shown on the applicable federal flood...
Title Commitment and Survey. Purchaser may, at its sole cost and expense, elect to obtain a title insurance commitment and/or survey regarding the Property.
Title Commitment and Survey. Within two (2) business days following the Effective Date, Seller shall deliver to Purchaser a title insurance commitment issued by the Title Company for the issuance of a 2006 ALTA Owner's Title Policy covering the Real Property (the "Title Commitment") together with copies of each of the Schedule A and Schedule B underlying title documents and/or exceptions set forth therein and a survey of the Real Property (the "Existing Survey"). Within ten (10) business days following the Effective Date, Seller shall deliver to Purchaser an update of the Existing Survey made in accordance with the current Minimum Standard Detail Requirements for ALTA/ACSM Title Land Surveys, jointly established and adopted by ALTA and NSPS and includes Items 1, 2, 3, 4, 6, 7, 8, 9, 10, 11(a), 14, 16, 17, 18 and 21 of Table A (the "Survey"). In the event the Survey is not delivered within such ten (10) business day period, the Title Exam Deadline (as hereinafter defined) shall be extended for one day for each day of such delay until such date that the Survey is delivered to Purchaser. Costs of the Title Commitment and Survey shall be paid as provided in Section 4.5 below.
Title Commitment and Survey. Seller shall obtain, at Seller's sole cost and expense, and deliver to Purchaser the title commitment on or before the expiration of ________ (___) business days after the Effective Date. Purchaser may obtain, at Purchaser's sole cost and expense, the Survey. Purchaser shall deliver a copy of the Survey, if any, to Seller promptly upon Purchaser's receipt of the Survey. In the event the Survey or the Title Commitment shows any matters that are reasonably unacceptable to Purchaser, Purchaser shall within three (3) business days after its receipt of the last of the title commitment and Survey (or receipt of the title commitment if Purchaser elects not to obtain a Survey) notify Seller of any such objections (and if no such objections are so made, title and Survey (if any) will be deemed acceptable for all purposes hereof).
Title Commitment and Survey. Within thirty (30) days after the Effective Date of this Contract, the Title Company shall furnish to Seller and Purchaser (i) a current commitment for an Owner’s Policy of Title Insurance (the “Title Commitment”) issued by the Title Company setting forth the state of title of the Property and all exceptions, including easements, restrictions, rights-of-way, covenants, reservations or other conditions or matters affecting such Property, and (ii) copies of all such exceptions listed in the Title Commitment (the “Title Exceptions”). Within thirty (30) days after the Effective Date of this Contract, Seller shall furnish to Purchaser a current survey of the Property (the “Survey”) prepared by GBI Surveying, Inc. or by another duly licensed land surveyor selected by Seller (the “Surveyor”), in accordance with the Texas Professional Land Surveying Practices Act and the General Rules of Procedures and Practices of the Texas Board of Professional Land Surveying, as currently revised, for a Category 1A, Condition II survey. The Survey shall be certified to Seller, Purchaser, and the Title Company and shall:
(i) contain a field note description of the Property, which field note description shall be used in the Deeds (as defined below);
(ii) show the location of all improvements, highways, streets, roads, water courses, set-back lines, easements, rights-of-way, and encroachments, if any, on the Property and the location of the Property in relation to the nearest paved and dedicated public roadway and the Property’s access thereto;
(iii) specify the gross square footage of land within the Property; and
(iv) certify that the Property is not in a special flood zone as defined by FEMA or other governmental agencies (or show the areas of the Property that are affected). The Survey shall be sufficient and acceptable to the Title Company for the purpose of enabling the Title Company to modify the exception contained in a Texas form owner’s title insurance policy pertaining to survey matters as permitted by applicable title insurance regulations to refer only to shortages in area. The Survey will not be a topographic survey, nor will the Survey will be an American Land Title Association (ALTA) survey, but in the event Purchaser wishes to have topographic information included on the Survey or desires to have the Survey certified as an ALTA Survey, Purchaser may make arrangements for the surveyor to perform the additional work, provided it pays the extra costs therefore and pr...
Title Commitment and Survey. (The following terms and conditions shall apply to a closing hereunder except to the extent superseded by the terms of a bona fide offer being matched pursuant to (e)(i) above.)
(i) Promptly upon Landlord's receipt of the notice required in Section (b) or (e) above, Landlord shall obtain and deliver or cause to be delivered to Tenant a survey of the Premises and a commitment for an owner's policy of title insurance to be issued to Tenant upon closing in the amount of the applicable purchase price. Such commitment and policy shall show good and merchantable title in Landlord, subject only to taxes and special assessments for the current and subsequent years, restrictions, conditions, and covenants of record, rights of parties in possession, and easements, rights-of-way, and mineral reservations, if any, of record.
(ii) Tenant shall, within ten (10) days after receiving the commitment for said owner's title insurance policy, deliver to Landlord written specifications of any objections to the title. Should any material defect be found in said title and be not removed within thirty (30) days of such notice thereof, the contract formed pursuant hereto shall become absolutely null and void.
Title Commitment and Survey. (a) Within ten (10) days after the Effective Date, Seller, at Seller’s sole cost and expense, shall deliver, or cause to be delivered, to Purchaser any abstracts of title to the Property in Seller’s possession. Purchaser, at Purchaser’s cost and expense, may obtain an Owner’s Commitment for Owner’s Title Insurance Policy (the “Title Commitment”) from a title company selected by Purchaser (the “Title Company”).
(b) Purchaser, at Purchaser’s sole cost and expense, shall obtain a survey or surveys of the Property (the “Survey”).
